I like a good ringtone story, OK, call me a little sad. Currently with 2241 diggs is the tale of the iPhone ringtone on Gizmodo. It does actually 'sound like holy angels tinkling'! A wonderful Mac geek has taken the original from the keynote, cleaned it up from significant background noise and shared it with Gizmodo (and iPhone) fans.
Perhaps this is taking the fandom a little too seriously, when a ringtone becomes a cult tone before it's actually launched, but well, it is pretty catchy (only this morning I was thinking 'I know that sound" as I walked into the lounge and Paul's phone rang to he sound of iPhone). I also just found a nice poem someone has written, an ode to the iPhone ringtone! Personally I'm not taking fandom that far but as we have a ringtone sharing site to use, we thougt we'd help spread the illusion of having an iPhone when you actually have a rubbish old 'smart phone'.
Well now it's not only available as MIDI or MP3 download via the Gizmodo site, but on our own C21tones ringtone sharing site. C21tones lets you share 'your own original compositions' for free over the air download (if you don't have bluetooth). Get it OTA here: C21tones.com
(May not work on some USA CDMA networks; note Apple chose a GSM network for iPhone!)